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A quarter of all current home owners called on family or friends when buying their current home, while among the under 35s, the figure increases to 57 per cent.

Parents helping their children on to the property ladder this year are expected to give 37 per cent of their total wealth excluding the value of their own home, the study found.

By 2035, this is expected to be more than half. For those buying in London, it already is, and the South East and East of England isn't far behind, Legal & General said.

The figures offer stark evidence that it is increasingly difficult for young people to get on the property ladder if they do not have access to financial help from others.

The proportion of current home owners who got help from family and friends to fund home purchases varies by region. At present, 32 per cent of home owners living in London got help, compared to 31 per cent in the South East.

Bankrolled: Around 305,900 people will get help from family and friends to buy a home this year

Average family and friends' contribution to a home purchase as a share of average household net wealth

Among prospective buyers, over 40 per cent expect of those in the South East, South West and the East Midlands expect to get help.

More than 30 per cent in Wales and the North West, as well as London, say they will need help. Only in Scotland is the proportion of prospective buyers saying they will get help lower than the proportion of existing homeowners who received support.

With property prices rising and wages stagnating, home ownership is at its lowest level for a generation.

A recent analysis by PwC predicts that in London by 2025 just 40 per cent will own homes, while 60 per cent will rent.

The fall is even more stark for the younger generation. In the 20 years from 1991 to 2011/12, home ownership among 25-34 year olds fell from 66 per cent to less than half at 43 per cent, the report reveals.

Ownership issues: A recent analysis by PwC predicts that in London by 2025 just 40 per cent will own homes, while 60 per cent will rent

Average family and friends' contribution towards purchase of a home as share of average household wealth by region

Nigel Wilson, chief executive of Legal & General, said the data showed a number of issues, including house prices being 'out of sync with wages'.

Mr Wilson said that in London the funding method was reaching 'tipping point' already as parental contributions made up more than 50 per cent of the wealth (excluding property) of the average household in the capital.

He added: 'The Bank of Mum and Dad plays a vital role in helping young people to take their early steps on to the housing ladder.'

'Not all young people have parents who can afford to help them and some who do still do not have enough to buy a place of their own.

'We need to fix the housing market by revolutionising the supply side - if we build more houses, demand can be met at a sensible level and prices will stabilise relative to wages.'

Last week, official data from the Land Registry revealed that average UK property prices increased by 6.7 per cent to £189,901 in the past year.

Changes: Home-ownership rate by age group since 1981

Support: Value of financial assistance in 2016 and aggregate value of those properties